savings = risk off (1 BTC = 1 BTC) investing = risk on (1 BTC = ???)

I see saving and investing as entirely different asset classes When you take a sound money lens, Bitcoin eg, when in self-custody, is just money, and therefore is a savings technology Gold, when self-custodied, would be the same thing As soon as you spend that money, ie buy an equity, a bond, a real estate asset, you’re shifting from a savings tool to an investment One of the major moments for me of the last 5 years was understanding that money, ie saving, was even an option, as the tradfi setup on inflationary money implies a passive index tracker is savings eg, but actually it’s an investment Ultimately, it’s about differing forms of risk that your capital is under